The driving factor for the food enzymes market is the improved quality of processed food and high reaction specificity.

NEW YORK CITY, NEW YORK, UNITED STATES, March 13, 2020 /EINPresswire.com/ -- The Global Enzymes Market is predicted to reach USD 11.63 Billion by 2027, according to a new report by Reports and Data. The enzyme market has garnered special attention in the past few years owing to its vast applications. They are utilized in food and animal feed, detergents and textiles, manufacturing industries, pharmaceuticals and biotechnology R&D, leathers, and others. The application of enzymes in the manufacturing process results in cost reduction, owing to less energy consumption and better substrate activity.

The growth of the enzyme market is mainly due to the high demand for effective enzymes-based pharmaceuticals. Other driving forces include an increase in the demand for renewable energy sources such as biofuels, wide applications of enzymes in various industries, and a rise in the prevalence of various chronic diseases such as inflammation & digestive disorders.

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North America dominates the market, followed by Europe. However, the Asia Pacific has the highest growth rate through the forecast period, owing to the high prevalence of chronic disorders, an increase in disposable incomes, an increase in awareness regarding enzymes-based pharmaceuticals and protein engineering techniques.

Further key findings from the report suggest

• With processed food gaining popularity, the demand for enzymes is increasing. It adds longevity to food’s shelf life.
• Food and Beverages held a market share of 24% in the year 2019 and is forecast to hold a market share of 25% in the year 2027 with an annual growth rate of 6.0%
• Enzymes find their application in consumer products such as detergents. Even a molecule of an enzyme in the detergent can boost its ability to act on substrate molecules such as soil.
• Household occupied a market share of 22% in the year 2019 and is projected to hold a market share of 23% in the year 2027, with the highest annual growth rate of 6.1%
• On the basis of source, the market is segmented into microorganisms, plants, and animals. Microorganisms hold the largest major share as they are easily available and have low production costs.
• Microorganisms held a market share of 37% in the year 2019 and are speculated to hold a market share of 38% in the year 2027, with 5.8% annual growth rate through the forecast years.
• Based on reaction type, the enzyme market is segmented into Hydrolase, Transferase, Oxidoreductase, Lyase, and Other Enzymes.
• Hydrolase has the largest market share of 24% in the year 2019 and is estimated to hold a market share of 25% by the year 2027, with an annual growth rate of 6% through the forecast duration.
• The U.S. is a major contributor in the enzymes market, owing to high demand in the food and beverage industry, and a rising concern for health, coupled with a high preference for processed food, will drive the market in this region.
• North America had the largest market share of 27% in the year 2019 and is predicted to hold a market share of 28% in the year 2027, with an annual growth rate of 6.0% through the forecast period.
• Key participants include AB Enzymes GmbH, Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., BASF SE (BASF Corporation), Codexis, Inc., DowDuPont Inc., F. Hoffmann-La Roche Ltd., Koninklijke DSM N.V., Novozymes A/S, and Thermo Fisher Scientific Inc. (Affymetrix, Inc.) among others.

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For the purpose of this report, Reports and Data has segmented the Global Enzymes Market on the basis of Type, Source, Reaction Type, Formulation, Application, and Region:

Type Outlook (Volume, Kilo tons; 2017-2027 And Revenue, USD Billion; 2017-2027)

• Protease
• Carbohydrase
• Lipase
• Polymerases and Nucleases
• Other Types

Source Outlook (Volume, Kilo tons; 2017-2027 And Revenue, USD Billion; 2017-2027)

• Microorganisms
• Plants
• Animals

Reaction Type Outlook (Volume, Kilo tons; 2017-2027 And Revenue, USD Billion; 2017-2027)

• Hydrolase
• Oxidoreductase
• Transferase
• Lyase
• Other Enzymes

Formulation Outlook (Volume, Kilo tons; 2017-2027 And Revenue, USD Billion; 2017-2027)

• Lyophilized powder
• Liquid
• Other (gel and granular forms)

Application Outlook (Volume, Kilo tons; 2017-2027 And Revenue, USD Billion; 2017-2027)

• Food & Beverage
• Household Care
• Bioenergy
• Pharmaceuticals and biotechnology
• Feed

Regional Outlook (Volume, Kilo tons; 2017-2027 And Revenue, USD Billion; 2017-2027)

• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o India
o South-east Asia
• Latin America
o Brazil
• Middle East & Africa

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